IDEAS home Printed from https://ideas.repec.org/a/prs/recofi/ecofi_0987-3368_2002_num_66_2_3751.html
   My bibliography  Save this article

L’impact de l’investissement socialement responsable sur l’environnement : quelques éléments de réflexion

Author

Listed:
  • Marianne Rubinstein

Abstract

[fre] L’investissement socialement responsable (ISR) s’impose aux États-Unis et au Royaume-Uni comme une forme majeure de placement de l’épargne. Dans l’hypothèse où les performances financières honorables de l’ISR se confirment, la demande sociale des investisseurs et les réformes institutionnelles en cours laissent présager un développement rapide de l’ISR. Celui-ci reflète les préoccupations de la société civile et accorde une place croissante aux préoccupations environnementales. Néanmoins, l’impact réel de l’ISR sur l’environnement reste à mesurer. Pour clarifier le débat, une distinction est établie entre l’impact sur les entreprises ciblées par les investisseurs socialement responsables et l’impact macroéconomique. S’il est clair que l’ISR permet de promouvoir une réflexion de nature environnementale au sein des firmes, son impact réel sur l’environnement est difficile à évaluer. . Classification JEL : G39, Q01 [eng] The impact of socially responsible investment on the environment : some elements of reflection . Socially responsible investment (SRI) is a major form of investment savings in the United States and the United Kingdom. In the event that the sound financial performances of SRI is confirmed, the social demand of investors and the institutional reforms that are underway are likely to lead to a rapid development in SRI. They reflect the concerns of civil society and give an increasing place to environmental concerns. Nevertheless, the real impact of SRI on the environment remains to be measured. In order to clarify the debate, a distinction is drawn between the impact created on those companies which are targeted by socially responsible investors and the macro-economic impact. Even though it is clear that SRI enables companies to reflect on the environment, its real impact on the environment is difficult to assess. . JEL classifications : G39, Q01

Suggested Citation

  • Marianne Rubinstein, 2002. "L’impact de l’investissement socialement responsable sur l’environnement : quelques éléments de réflexion," Revue d'Économie Financière, Programme National Persée, vol. 66(2), pages 173-187.
  • Handle: RePEc:prs:recofi:ecofi_0987-3368_2002_num_66_2_3751
    DOI: 10.3406/ecofi.2002.3751
    Note: DOI:10.3406/ecofi.2002.3751
    as

    Download full text from publisher

    File URL: https://doi.org/10.3406/ecofi.2002.3751
    Download Restriction: no

    File URL: https://www.persee.fr/doc/ecofi_0987-3368_2002_num_66_2_3751
    Download Restriction: no

    File URL: https://libkey.io/10.3406/ecofi.2002.3751?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Marianne Rubinstein, 2002. "Le débat sur le gouvernement d'entreprise en France : un état des lieux," Revue d'Économie Industrielle, Programme National Persée, vol. 98(1), pages 7-28.
    2. Eve Chiapello & Luc Boltanski, 1999. "Le nouvel esprit du capitalisme," Post-Print hal-00680085, HAL.
    3. Glen Dowell & Stuart Hart & Bernard Yeung, 2000. "Do Corporate Global Environmental Standards Create or Destroy Market Value?," Management Science, INFORMS, vol. 46(8), pages 1059-1074, August.
    4. Robert D. Klassen & Curtis P. McLaughlin, 1996. "The Impact of Environmental Management on Firm Performance," Management Science, INFORMS, vol. 42(8), pages 1199-1214, August.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lu Zhang & Yuan George Shan & Millicent Chang, 2021. "Can CSR Disclosure Protect Firm Reputation During Financial Restatements?," Journal of Business Ethics, Springer, vol. 173(1), pages 157-184, September.
    2. Caroline Flammer, 2015. "Does Corporate Social Responsibility Lead to Superior Financial Performance? A Regression Discontinuity Approach," Management Science, INFORMS, vol. 61(11), pages 2549-2568, November.
    3. Stefan Ambec & Paul Lanoie, 2007. "When and Why Does It Pay To Be Green?," CIRANO Working Papers 2007s-20, CIRANO.
    4. Cañón de Francia, Joaquín & Garcés Ayerbe, Concepción, 2006. "Repercusión económica de la certificación medioambiental ISO 14001," Cuadernos de Gestión, Universidad del País Vasco - Instituto de Economía Aplicada a la Empresa (IEAE).
    5. Suhong Li & Thomas Ngniatedema & Fang Chen, 2017. "Understanding the Impact of Green Initiatives and Green Performance on Financial Performance in the US," Business Strategy and the Environment, Wiley Blackwell, vol. 26(6), pages 776-790, September.
    6. Hammad Riaz & Abubakr Saeed, 2020. "Impact of environmental policy on firm's market performance: The case of ISO 14001," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(2), pages 681-693, March.
    7. Stefan Ambec & Paul Lanoie, 2009. "Performance environnementale et économique de l'entreprise," Economie & Prévision, La Documentation Française, vol. 0(4), pages 71-94.
    8. Hammad Riaz & Abubakr Saeed & Muhammad Saad Baloch & Nasrullah & Zeeshan Ahmad Khan, 2019. "Valuation of Environmental Management Standard ISO 14001: Evidence from an Emerging Market," JRFM, MDPI, vol. 12(1), pages 1-14, January.
    9. Mahabubur Rahman & Saqib Aziz & Mathew Hughes, 2020. "The product‐market performance benefits of environmental policy: Why customer awareness and firm innovativeness matter," Business Strategy and the Environment, Wiley Blackwell, vol. 29(5), pages 2001-2018, July.
    10. Gun Jea Yu & Seung-Yoon Rhee, 2015. "Effect of R&D Collaboration with Research Organizations on Innovation: The Mediation Effect of Environmental Performance," Sustainability, MDPI, vol. 7(9), pages 1-19, August.
    11. Vastola, Vincenzo & Russo, Angeloantonio & Vurro, Clodia, 2017. "Dealing with Cultural Differences in Environmental Management: Exploring the CEP-CFP Relationship," Ecological Economics, Elsevier, vol. 134(C), pages 267-275.
    12. Giovanni Cespa & Giacinta Cestone, 2007. "Corporate Social Responsibility and Managerial Entrenchment," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 16(3), pages 741-771, September.
    13. Shirish Sangle, 2010. "Critical success factors for corporate social responsibility: a public sector perspective," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 17(4), pages 205-214, July.
    14. Joaquín Cañón-de-Francia & Concepción Garcés-Ayerbe, 2009. "ISO 14001 Environmental Certification: A Sign Valued by the Market?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 44(2), pages 245-262, October.
    15. Surender Kumar & Pritika Dua, 2022. "Environmental management practices and financial performance: evidence from large listed Indian enterprises," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 65(1), pages 37-61, January.
    16. Orhan Akisik & Graham Gal, 2014. "Financial performance and reviews of corporate social responsibility reports," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 25(3), pages 259-288, December.
    17. Vikash Ramiah & Jacopo Pichelli & Imad Moosa, 2015. "The Effects of Environmental Regulation on Corporate Performance: A Chinese Perspective," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 18(04), pages 1-31, December.
    18. Olaf Weber & Marcus Fenchel & Roland W. Scholz, 2008. "Empirical analysis of the integration of environmental risks into the credit risk management process of European banks," Business Strategy and the Environment, Wiley Blackwell, vol. 17(3), pages 149-159, March.
    19. Jiao, Yawen, 2010. "Stakeholder welfare and firm value," Journal of Banking & Finance, Elsevier, vol. 34(10), pages 2549-2561, October.
    20. Dang, Tri Vi & Wang, Youan & Wang, Zigan, 2022. "The role of financial constraints in firm investment under pollution abatement regulation," Journal of Corporate Finance, Elsevier, vol. 76(C).

    More about this item

    JEL classification:

    • G39 - Financial Economics - - Corporate Finance and Governance - - - Other
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • G39 - Financial Economics - - Corporate Finance and Governance - - - Other
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prs:recofi:ecofi_0987-3368_2002_num_66_2_3751. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Equipe PERSEE (email available below). General contact details of provider: https://www.persee.fr/collection/ecofi .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.